Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Sells $461,789.49 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the sale, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock traded up $20.85 during mid-day trading on Friday, hitting $293.64. 864,385 shares of the stock traded hands, compared to its average volume of 489,589. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company’s 50-day simple moving average is $315.33 and its 200-day simple moving average is $272.58. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of -11.71 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter last year, the firm posted ($5.34) earnings per share. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at $49,749,000. Paulson & CO. Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after acquiring an additional 192,000 shares during the last quarter. Braidwell LP acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $39,010,000. State Street Corp lifted its holdings in shares of Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after purchasing an additional 143,038 shares during the last quarter. Finally, Avoro Capital Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after purchasing an additional 111,111 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of research analyst reports. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. JMP Securities reissued a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, B. Riley boosted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $351.67.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.